Adient (NYSE:ADNT) Sets New 12-Month Low – Time to Sell?

by · The Markets Daily

Adient (NYSE:ADNT – Get Free Report)’s stock price hit a new 52-week low during trading on Friday. The company traded as low as $16.35 and last traded at $16.2850, with a volume of 12,223 shares changing hands. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $28.00 target price on shares of Adient in a report on Thursday, August 6th. Barclays dropped their price objective on shares of Adient from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. Wall Street Zen downgraded Adient from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Morgan Stanley reduced their target price on shares of Adient from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 18th. Finally, Weiss Ratings downgraded shares of Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.90.

View Our Latest Research Report on Adient

Adient Stock Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The company has a fifty day moving average of $18.33 and a 200 day moving average of $19.98. The stock has a market cap of $1.24 billion, a P/E ratio of 26.83, a PEG ratio of 0.23 and a beta of 1.60.

Adient (NYSE:ADNT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. On average, equities analysts predict that Adient will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other Adient news, Director Peter Carlin sold 7,843 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the transaction, the director owned 38,835 shares in the company, valued at $747,573.75. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Adient

Several hedge funds and other institutional investors have recently modified their holdings of ADNT. Integrated Wealth Concepts LLC acquired a new position in shares of Adient in the 2nd quarter valued at $27,000. Farther Finance Advisors LLC raised its stake in shares of Adient by 126.4% in the third quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock worth $31,000 after acquiring an additional 1,026 shares during the last quarter. Parallel Advisors LLC boosted its position in Adient by 19.4% in the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Adient during the 2nd quarter worth about $94,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Adient by 10.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock valued at $152,000 after buying an additional 705 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

(Get Free Report)

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.

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